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National Energy Guarantee Update

Yesterday the COAG Energy Council released a draft of the proposed changes to the National Electricity Law that would implement the National Energy Guarantee (NEG).

The draft Bill sets out:

  • Who is liable under the emissions reduction and reliability requirements;
  • The key aspects of the emissions and reliability requirements;
  • The compliance and penalty framework;
  • The additional functions and powers of the Australian Energy Market Commission (AEMC), the Australian Energy Regulator (AER), and the Australian Energy Market Operator (AEMO) to support the implementation of the Guarantee; and
  • A new emissions objective, applicable to the emissions requirement, to guide rule-making by the AEMC and the exercise of related functions and powers by the AEMC, AEMO and AER.

Stakeholders are encouraged to make written submissions on the draft Bill by 12 September, 2018. Submissions will be published on the COAG Energy Council’s website, following a review of claims for confidentiality.

If you would like further information please get in contact with your Portfolio Manager or follow this link to the COAG Energy Council website.